NRI lured to invest in construction projects, duped of Rs 23 crore
A Non-Resident Indian (NRI) based in the United Kingdom (UK) has complained against a Mumbai resident for allegedly duping him of over Rs23 crore, after luring him to invest in a construction business.
A Non-Resident Indian (NRI) based in the United Kingdom (UK) has complained against a Mumbai resident for allegedly duping him of over Rs23 crore, after luring him to invest in a construction business. The Kasarvadawali police have arrested the accused.
Electronics businessman Rajesh Tailor (55), based in Harrow, northwest London, has alleged that from 2006-2014, he invested Rs23 crore in construction projects after being lured by Pawan Kulwar (38), a resident of Atlanta Estate in Goregaon. Kulwar, however, failed to provide him any returns or even the invested amount.
"We are collecting documents that were used to cheat Tailor. He was duped by the accused on the pretext of giving double returns," said a Kasarwadavali police official. "If necessary, we will also make other arrests in the case," he added.
Investigation officer Balasaheb Tambe said, "We have arrested the accused under section 420 (cheating), 465 (forgery), 467 (forgery of valuable security, will, etc), 468 (forgery for purpose of cheating), 471 (using forged document as genuine), 120(b) (criminal conspiracy), 506 (criminal intimidation) and 34 (common intent) of the Indian Penal Code. Kulwar has been remanded into police custody for five days."